Shareholders are suffering major losses from this grossly underperforming company. And it gets worse every day.
If management hadn’t instigated the book adjustment last year consolidating share capital (by converting 3 ordinary shares to 1), to try and prop up the share price, the current price would be .45 cents or less. Five years ago, the price was regularly above $6.
How can the directors and executive management justify increasing their base remuneration from year-to-year?
Executive decisions regarding acquisitions, forecasting and analysis of the operating environment have been highly questionable. Management also fails to keep members adequately informed.
A change in management thinking and strategic direction is necessary to fix this company.
There should be greater shareholder scrutiny of executive decisionmaking.
The high rate of director and senior executive turnover in this company should alert outsiders that there may be something significantly wrong inside this company.
I urge all shareholders to vote AGAINST the DIRECTORS’ REMUNERATION motion at the upcoming 2012 AGM.
CSR Price at posting:
$1.36 Sentiment: None Disclosure: Held
